GLOBAL GOVERNANCE

Spring 2010

by Sandra Kalniete

Because the major problems we all face are global, they can only be tackled by action at a global level. And this in turn requires a fundamental reform of the architecture of global governance. It’s an enormous political challenge.

But change is already beginning to happen. Frameworks like the G20 and last December’s Climate Change summit in Copenhagen underline the inadequacy of most of our present international institutions.

Among the ideas now being floated there is that of an "Age of Continents", in which it is sheer size that matters, so the world will in future either be run by a G2 made up of China and the U.S., or perhaps by a G3 that includes the EU.

The world’s smaller states – and even bigger ones – are becoming increasingly irrelevant if they try to act alone without being active participants in regional integration and cooperative frameworks. Each EU member state – whether large or small – has to realise that its ability to be in any way of a global player depends on Europe’s collective ability to govern the EU effectively and to make timely decisions. Pooling sovereignty is the only available alternative to global irrelevance.

Global governance also requires predictable and fair funding for tackling the most urgent global problems. The most obvious source of such funding is global taxation of carbon emissions and also of financial transactions. These taxes would not only help to fund development programmes but would also play a vital role in steering such policies as those needed to curb global warming and reduce harmful currency speculation.

 

Further articles in this GLOBAL GOVERNANCE section
Pascal Lamy	Global Governance is a challenge for democracy (but an EU opportunity)
Iain Begg	Global governance could take a leaf from the EU's book
Leszek Balcerowicz	Worldwide reform means engaging public opinion first
Robert Hutchings	Why U.S.-EU economic co-operation holds the key to global governance
Paul Tucker	Ending boom and bust: The case for macroprudential instruments
The Europe's World panel on global governance
C. Fred Bergsten	The global crisis has accelerated governance reform
Daniel Daianu	G20 could turn into a global economic security body
Kemal Dervis	G20 should increase the legitimacy of the international institutions
Jirí Dienstbier	Nation states cannot meet the challenges of deregulated globalisation
William Drozdiak	An alternative is regional institutions to act in the service of global governance
Monica Frassoni	The only global governance model that would work is federal
Angel Gurría	G20 could give the momentum needed to usher in unprecedented international co-operation
Danuta Hübner	The dynamics of crisis have fundamentally altered the global financial system
Wolfgang Ischinger	We need fundamental reform of the international institutions
Sergei A. Karaganov	Despite its decline, Europe will be a shining example of how the world should be governed
Kishore Mahbubani	Europe provides both the problem and the solution to reforming global governance
Reza Moghadam	We at the IMF have already begun the process of reconciling effectiveness and legitimacy
Jean Pisani-Ferry	After a brilliant start, global co-operation and governance may disappoint in the years ahead
Hans-Gert Pöttering	The European Parliament must play a central role if we want a democratic model of global governance
Jiang Shixue	China would never accept the idea of a G2
Danilo Türk	We need global institutions capable of making international co-operation inclusive
Guy Verhofstadt	Integration that transcends borders is the logical response to 21st century realities
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